XRP Under Fire: Key Support Levels Threatened, Driving Downward Movement

Recent weeks have seen XRP experience significant selling pressure, triggered by its loss of the $3.0 support level. The downtrend is further amplified by the short-term 50 EMA crossing below the long-term 200 EMA, a pattern known as the death cross, which has historically led to price declines. Large wallet transfers to exchanges also have increased, adding to selling pressure. The crucial resistance level on the daily chart sits around $2.95, although XRP hasn’t yet been able to hold this area consistently.